Mubasher: Combined Group Contracting Company announced that its UAE-based subsidiary, Combined Group Contracting Emirates, has won a tender covering the construction and building works of internal roads in Al Farfar, Fujairah.

The tender is valued at AED 23.33 million or $6.37 million and carries a period of 240 days, according to a disclosure to Boursa Kuwait on Thursday.

The said deal is expected to reflect positively on the firm’s future financial statements through operating profits.

Earlier this week, Combined Group announced that its subsidiary in the UAE was ranked the first by offering the lowest bids in a UAE tender that is valued at UAE 260.799 million or KWD 21.630 million by Abu Dhabi General Services Company (Musanada)

It is worth highlighting that during the second quarter of 2019, Combined Group’s profits surged by 26.5% to KWD 1.05 million from KWD 830,000 during the corresponding period in 2018.

Source: Mubasher

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